iShares MSCI UAE ETF (NASDAQ:UAE) Short Interest Update

iShares MSCI UAE ETF (NASDAQ:UAE) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 160,000 shares, an increase of 33.9% from the October 31st total of 119,500 shares. Based on an average trading volume of 50,400 shares, the days-to-cover ratio is currently 3.2 days.

iShares MSCI UAE ETF Price Performance

Shares of UAE traded up $0.07 during mid-day trading on Friday, reaching $15.55. The company had a trading volume of 75,066 shares, compared to its average volume of 31,846. The company has a market capitalization of $45.88 million, a P/E ratio of 8.94 and a beta of 0.64. iShares MSCI UAE ETF has a twelve month low of $13.24 and a twelve month high of $15.59. The company’s 50-day moving average is $15.15 and its 200-day moving average is $14.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Comerica Bank raised its stake in shares of iShares MSCI UAE ETF by 8.0% in the first quarter. Comerica Bank now owns 108,997 shares of the company’s stock valued at $1,612,000 after acquiring an additional 8,050 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in iShares MSCI UAE ETF during the 2nd quarter valued at $385,000. Rhumbline Advisers raised its position in iShares MSCI UAE ETF by 1.1% in the 2nd quarter. Rhumbline Advisers now owns 278,073 shares of the company’s stock valued at $3,824,000 after purchasing an additional 2,901 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in iShares MSCI UAE ETF by 13.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 256,688 shares of the company’s stock worth $3,899,000 after purchasing an additional 30,851 shares in the last quarter.

About iShares MSCI UAE ETF

The iShares MSCI UAE ETF (UAE) is an exchange-traded fund that mostly invests in total market equity. The fund tracks a market-cap-weighted index of large-, mid and small-cap UAE companies. UAE was launched on Apr 29, 2014 and is managed by BlackRock.